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Sep 26, 2012
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that means spending on both defense programs and non-defense programs. >> right. >> i would agree that sequestration isn't the best way to do it, but we haven't come up with any other way to cut spending. spending has continued to go up and up and up and the deficit is rising right along with it. >> what about the jobs argument? some people say 1 million jobs are at stake. >> right. if jobs were all we cared about, 130 years ago there were a lot more people employed in the agricultural sector. if we were worried about jobs, we would ban mechanized tractors and whatnot and have people cut wheat by hand. the fact there are fewer people employed in the defense industry over the last few years, defense contractors have been making more money and cutting employment. why? because they're becoming more efficient. we like this when this happens in every other sector. in defense, for some reason, we want the pentagon to be a jobs program. i think most americans recognize that's not what it should be doing. it should be protecting us from harm and nothing more. >> can it do that with the cuts co
that means spending on both defense programs and non-defense programs. >> right. >> i would agree that sequestration isn't the best way to do it, but we haven't come up with any other way to cut spending. spending has continued to go up and up and up and the deficit is rising right along with it. >> what about the jobs argument? some people say 1 million jobs are at stake. >> right. if jobs were all we cared about, 130 years ago there were a lot more people employed in...
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Oct 2, 2012
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why the pink slips haven't gone out because of the defense cuts. if we want to improve our schools... ...what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ...nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. [ feedback ] attention, well, everyone. you can now try snapshot from progressive free for 30 days. just plug this into your car, and your good driving can save you up to 30%. you could even try it without switching your insurance. why not give it a shot? carry on. now you can test-drive snapshot before you switch. visit progressive.com today. >>> our kudlow caucus is still with us. i don't think i said that before. i apologize as always. let me begin with you on this point. the defense contract. i go to you because you are from virginia. they are going to get killed by the budget cut. the law says that the contractors have to send out pink
why the pink slips haven't gone out because of the defense cuts. if we want to improve our schools... ...what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ...nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. [ feedback ] attention, well, everyone. you can now try snapshot from progressive...
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Oct 1, 2012
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is obama really going to be able to articulate a defense on fiscal policy. i haven't heard him give any speech where he seems to be in the weeds on this. >> i thought he was a tough campaign strategist. >> now, look, if he takes my advice, which he won't do. i would talk about the following. i have a bill that all kinds of economists say would create at least a million jobs, congress won't touch it. >> i think that we haven't answered the funnel eed the fun question that -- if romney gets into this pro business thing, are we going to have inflation like your venezuelan idea? >> i don't care much about venezuela, although it looks like what's his name is going to lose, chavez is going to lose. i do remember argentina having been down there several times in in the 1990s, you buy all these bonds, you have a triple digit inflation rate. lee munson, thanks. >> i'm a bull, it's okay to be a bull. >> all right, the kudlow caucus is staying throughout the area. here's what we're going to tackle up next, the north koreans now, they say we're planning to inthey would
is obama really going to be able to articulate a defense on fiscal policy. i haven't heard him give any speech where he seems to be in the weeds on this. >> i thought he was a tough campaign strategist. >> now, look, if he takes my advice, which he won't do. i would talk about the following. i have a bill that all kinds of economists say would create at least a million jobs, congress won't touch it. >> i think that we haven't answered the funnel eed the fun question that -- if...
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Sep 28, 2012
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osama bin laden was dead so we could slash defense and pull out of afghanistan early and leave iraq entirely and now the narrative is in tatters. they had a huge personal political interest in maintaining that narrative. it was wrong to begin. it is wrong now and the president himself, even the day after his own director of counterintelligence, matthew olson said it is a terrorist act. this guy went on "the view" of all places to repeat the lie. >> and it is worse than that. he went before the u.n. i read his speech. he had three fat paragraphs mr. obama did trying to sell the video/spontaneous demonstration. still, that was, what, this past tuesday. >> correct. >> and remember, he and mrs. clinton went on tv in pakistan still apologizing for the video. they have so much invested in the notion that if we reach out, don't offend these people we will get along fine. it is ludicrous. it's a lie and the president of the united states needs to come before the american people and explain to them what did he know? when did he know it? and why has he and senior officials been lying. >> is jack jacob
osama bin laden was dead so we could slash defense and pull out of afghanistan early and leave iraq entirely and now the narrative is in tatters. they had a huge personal political interest in maintaining that narrative. it was wrong to begin. it is wrong now and the president himself, even the day after his own director of counterintelligence, matthew olson said it is a terrorist act. this guy went on "the view" of all places to repeat the lie. >> and it is worse than that. he...
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Sep 25, 2012
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it's a warm and fuzzy name for a defense company. >> absolutely. beads. doesn't sound bad whatsoever. a little bit of a feminine touch there if you think about what you can put around your neck, but i i like it, too. the latest in that development is of course tomorrow tom enders will step into front of the german parliament to map out the kind of deal that we may expect from that merger. until now, all the governments involved, uk, u.s. as well as the french and german of course have come up with a lot of yes buts. meaning they're looking at trying to safe guard jobs and also a possible takeover and the golden share offered quite a few days ago, however it could be getting in to problems when it comes into the eu competition wall. so we really have to see. perhaps tomorrow after that meeting, we could see more information. ross. >> all right. thanks for that, patricia. >> want to just quickly sticking with transport, take a look at continental shares, they're down now more than 4% in frankfurt trade, this after the company's major shareholder sold over 2
it's a warm and fuzzy name for a defense company. >> absolutely. beads. doesn't sound bad whatsoever. a little bit of a feminine touch there if you think about what you can put around your neck, but i i like it, too. the latest in that development is of course tomorrow tom enders will step into front of the german parliament to map out the kind of deal that we may expect from that merger. until now, all the governments involved, uk, u.s. as well as the french and german of course have...
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Oct 3, 2012
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defense? nondefense? safety net? where's it going to come from? >> i can't tell you where it's going to come from but i do believe it's going to be specific. i do know that the american people, regardless of the specifics on spending, i agree with the earlier comment that he's got to be specific on how he's going to create jobs. but relative to spending, the people sitting at their kitchen table, talking kitchen table economics know we cannot continue the spending, the run away spending like we've done in the last four years, $6 trillion. >> rick lazio, quickly, i want to ask you this on the way out. i have read the romney plan. i read all of it, whatever, how many pages. >> p he wants to take spending as a share of gdp down from 24% to 20%. >> which is where it was in 2007, by the way. >> in the first term, in the first four years. roughly, roughly on a cumulative basis, ilt close to $2 trillion below the growth now. in order, the growth is this and romney is going to lower the growth by nearly $2.trillion. >> now that's a great number. real fast
defense? nondefense? safety net? where's it going to come from? >> i can't tell you where it's going to come from but i do believe it's going to be specific. i do know that the american people, regardless of the specifics on spending, i agree with the earlier comment that he's got to be specific on how he's going to create jobs. but relative to spending, the people sitting at their kitchen table, talking kitchen table economics know we cannot continue the spending, the run away spending...
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Sep 27, 2012
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more growth-oriented equities than more of the defensive names. but those growth equities that have supportable dividends. and are leveraged toward future economic growth. and i would have some money in bonds to guard against inflation, recession, double dip, worries about a fiscal cliff and a recession that could cause and some of those issues we really have a lot of uncertainty at this point. >> for those of you watching at home and think you want us to go into growth-orientated stocks. also the recent economic data like the durable goods today. are we sliding backwards economically speaking? >> we're longer-term investors. i view it as longer-term opportunities. some of the defensive names have run up quite a bit for a lot of reasons that were given. so there's some opportunity in some of the more leveraged, higher-growth, higher beta, higher volatility types of names out there. >> does that mean -- we'll get back to you in a second, but i want to follow up with you, michael on that. are you selling some of the miners? i know you like b.h.p. bi
more growth-oriented equities than more of the defensive names. but those growth equities that have supportable dividends. and are leveraged toward future economic growth. and i would have some money in bonds to guard against inflation, recession, double dip, worries about a fiscal cliff and a recession that could cause and some of those issues we really have a lot of uncertainty at this point. >> for those of you watching at home and think you want us to go into growth-orientated stocks....
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Sep 25, 2012
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looks like the defensive guy has possession but it was ruled a touchdown. rest of the world knows it was the wrong call, seattle wins, green bay loses, the nfl just released a statement standing by the call that golden tate should be credited with a touchdown but admitted a penalty should have been call and negated it, whatever that is worth this is a quote, "this should have been a penalty for offensive pass interference which would have ended guy. it was not called and is not reviewable in instant replay." that result rocked the betting world. most of the reports say the play caused a $150 million to $300 betting swing but several gambling sources tell the cnbc that the number is most likely over 8 billion. jay kornegay who runs the sports book at the las vegas hotel and casino says 12 to 15 million was bet on the game in vegas, usually is 1 to 2% of the global take. you include internet exoverseas, et cetera. that's talking about 750 million. now, consider that there's a loser for every winner and we are talking about, sue, 1.5, folksily, billion dollar
looks like the defensive guy has possession but it was ruled a touchdown. rest of the world knows it was the wrong call, seattle wins, green bay loses, the nfl just released a statement standing by the call that golden tate should be credited with a touchdown but admitted a penalty should have been call and negated it, whatever that is worth this is a quote, "this should have been a penalty for offensive pass interference which would have ended guy. it was not called and is not reviewable...
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Sep 25, 2012
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it's clear that the defensive player pretty much had it, right? the referees were blamed for the calm. since they're replacements and the regulars are locked out over a labor issue, everyone in this country is chiming in. the nfl said a lot about a penalty that should have been called. all you need to know from them is this. they said the touchdown counts and the result of the game is final. even president obama chimed in on this one with his two cents or 140 characters, if he did write the tweet saying, quote, nfl fans on both sides of the aisle, hope the refs lockout is settled soon. that's the first bipartisan agreement in years. millions of fans, labor issue. wisconsin swing state. people need to realize this. this is about pensions and job security. these are labor issues that we've seen, whether it's wisconsin or in chicago with the teachers union. so there's resonance, believe it or not, into politics. >> it's amazing. terry, did you watch the game? >> i did not watch the game. i saw the play. we're talking about a very small amount of mone
it's clear that the defensive player pretty much had it, right? the referees were blamed for the calm. since they're replacements and the regulars are locked out over a labor issue, everyone in this country is chiming in. the nfl said a lot about a penalty that should have been called. all you need to know from them is this. they said the touchdown counts and the result of the game is final. even president obama chimed in on this one with his two cents or 140 characters, if he did write the...
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Sep 27, 2012
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he talked about his tax cut plan defensively. he was pulling back on it saying you're not going to get a big tax cut here because every dollar we give in you rate reduction we'll take away a deduction from you. that's not the way it to sell a tax cut. it's putting more money in people's pockets and be inning incentives. i want to see mitt romney that is much more bold and much more confident in his program. i wonder whether mitt romney even believes in the tax cut or whether it was just forced upon him. >> that is a key question. i'll go to phil mus musser on that. steve moore oig writes that the new income numbers come out and we've lost about $4500 during obama's presidency. in the month of august, we lost another 500 bucks. the reason i cite that is if you have more take home pay from lower middle class tax rates which is in romney's plan if he believes in it, that gets people through the income problem. that's why this thing should work. now, how is it that mitt romney can't get that message down? how is it that he can't expl
he talked about his tax cut plan defensively. he was pulling back on it saying you're not going to get a big tax cut here because every dollar we give in you rate reduction we'll take away a deduction from you. that's not the way it to sell a tax cut. it's putting more money in people's pockets and be inning incentives. i want to see mitt romney that is much more bold and much more confident in his program. i wonder whether mitt romney even believes in the tax cut or whether it was just forced...
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Sep 27, 2012
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the minus 1.6 number on x transportation i'm guessing another big decline in defense, defense aircraft was down and where is defense overall? it looks like defense capital goods down 40% so this is a thing that has to do with maybe we're seeing some of the -- >> is this the fiscal cliff? >> it wouldn't be the face fiscal cliff as much as what is happening in afghanistan and iraq, and the drawdown. i have to call the pentagon and see if they'll give us a general idea on spending. we have been chronicling over the last 11 years the complete inability of the government to count what the government spends and/or hires, it's been a source of amazing frustration. i get they have trouble with the private sector but you'd think they'd get the hiring of government officials or government workers to be right. on the claims number, a little bit towards the things are getting a little better number. rick, i didn't see the continuing claims number. some economists were looking for that gauge for how they do on what their sense of unemployment is as well. >> i'll run and check it while you keep talk
the minus 1.6 number on x transportation i'm guessing another big decline in defense, defense aircraft was down and where is defense overall? it looks like defense capital goods down 40% so this is a thing that has to do with maybe we're seeing some of the -- >> is this the fiscal cliff? >> it wouldn't be the face fiscal cliff as much as what is happening in afghanistan and iraq, and the drawdown. i have to call the pentagon and see if they'll give us a general idea on spending. we...
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Oct 3, 2012
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and secondly, he has to put barack obama on the defensive. a big challenge there for him because the two are mutually contradictory. >> we're just looking at pictures there of mitt romney sans jacket, so trying to prove that he is the man next door. this has been the whole way through the campaign. gretchen, it is obama's to lose because he is in the lead. what do you think we're likely to see in terms of the tone of the debate and where each candidate will try and push this conversation? >> you know, i think the one who wins this debate will be the one who brings the other out of their comfort zone. president obama will not want to talk about his record, so romney will have a challenge in that and he should. he should challenge obama, try to get him to talk about his record, talk about his policies and how they have or have not worked. i think they will talk a little bit about how they have not worked. if we really want to continue those policies for the next four years. at the same time, romney needs to go in and talk about what his policie
and secondly, he has to put barack obama on the defensive. a big challenge there for him because the two are mutually contradictory. >> we're just looking at pictures there of mitt romney sans jacket, so trying to prove that he is the man next door. this has been the whole way through the campaign. gretchen, it is obama's to lose because he is in the lead. what do you think we're likely to see in terms of the tone of the debate and where each candidate will try and push this conversation?...
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Sep 30, 2012
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there's that and the defense budget. we are undertaxed. need to raise more revenues. do that by broadening the base and lowering rates and getting more revenue in. democrats need to compromise on entitlement reform and republicans need to compromise on taxes. again, it's not hard to figure out. it's just getting the political well encouraged to get the job done. >> they just can't come together. good to have you on the program. >> nice to see you. >> thank you so much. sheila bair joining us. >>> up next, do things go better with coca cola? the company's ceo thinks so. i'll talk to the head of the soft drink giant about bringing clean water to those around the globe. >>> well, this week in new york saw the eighth meeting of the clinton global initiative, the annual gathering of leaders and bold-faced names to address some of the globe's most challenging dilemmas. many in the developing world lack access to clean drinking water. ceo of the world's largest beverage company, coca cola, and the inventor of the segue let me in on their plans to quench that thirst. >> so ma
there's that and the defense budget. we are undertaxed. need to raise more revenues. do that by broadening the base and lowering rates and getting more revenue in. democrats need to compromise on entitlement reform and republicans need to compromise on taxes. again, it's not hard to figure out. it's just getting the political well encouraged to get the job done. >> they just can't come together. good to have you on the program. >> nice to see you. >> thank you so much. sheila...
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Sep 27, 2012
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if you looked at durables, even if you stripped out defense and transportation, it was still a very weak number. that was the third down month in a row we had seen on that. that's not a good sign. >> so are things worsening? >> in my view, they are. the employment situation is as bad as it was in 2009. i like the employment to population ratio. that has only moved one-tenth of a percent higher since its worst print in 2009. >> yet, you don't want to get in front of this train that is the stock market with the central bank easing. >> i would disagree with that. don't fight the fed. you should be fighting the fed at this point. i look at double-digit returns. you don't get double-digit returns every day when you have these kinds of structural head winds ahead of you. we've been very actively doing what we can control, which is trimming portfolios into these rallies, taking risk off the table all year long. so when you say don't fight the fed, that's really a short-term phenomenon. >> really? >> to me it's a great opportunity. >> i don't know if ben bernanke -- he makes it sound like it's g
if you looked at durables, even if you stripped out defense and transportation, it was still a very weak number. that was the third down month in a row we had seen on that. that's not a good sign. >> so are things worsening? >> in my view, they are. the employment situation is as bad as it was in 2009. i like the employment to population ratio. that has only moved one-tenth of a percent higher since its worst print in 2009. >> yet, you don't want to get in front of this train...
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Sep 25, 2012
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we have a very rich heritage of participation in the defense of our country in the commonwealth and with the ability for us to go forward as a country, virginia plays a very important role and when you see the president refusing to get involved with substituting these defense cuts it will have a real impact on the communities across our commonwealth and it means real jobs and it will mean real layoffs and i believe that will end up winning virginia for a while. >> it's interesting, though, if you're looking at this as a voter, could you pick anybody to blame for this as we head toward the fiscal cliff. why do you think it goes back to the president on this? >> when the entire debt ceiling debate culminated august 2nd last year, you recall the resolution at the time to avoid going over that cliff was that we put in place the agreement that the super committee was supposed to come up with the remaining cuts that we were unable to do so at the white house. unfortunately, the two parties didn't get together, and instead we now have this sequestration in place that will become real at the end
we have a very rich heritage of participation in the defense of our country in the commonwealth and with the ability for us to go forward as a country, virginia plays a very important role and when you see the president refusing to get involved with substituting these defense cuts it will have a real impact on the communities across our commonwealth and it means real jobs and it will mean real layoffs and i believe that will end up winning virginia for a while. >> it's interesting,...
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Sep 29, 2012
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-- for defense cuts. i mean, aren't your programs niche enough that you may not even feel it if there is sequestration? >> we absolutely have capabilities that are not platform dependent. the big savings come from taking platforms out of the inventory. we provide things that go onto those platforms or for soldier systems, radios, night vision goggles and jammers we put into aircraft and vehicles. so we have a lot of capabilities that are very compatible with the department of defense stated priorities as they go forward in the pacific and other places that they think are important. the thing that was most unnerving, i read all your presentations, the department of defense hasn't really given any guidance what's going to happen. >> they haven't. >> that's a little weird, isn't it? we're a few months away. >> our customer in some ways doesn't know anymore than the defense industry does at this point about where the cuts will be. i think that they're taking a hard look at programs and where they might take t
-- for defense cuts. i mean, aren't your programs niche enough that you may not even feel it if there is sequestration? >> we absolutely have capabilities that are not platform dependent. the big savings come from taking platforms out of the inventory. we provide things that go onto those platforms or for soldier systems, radios, night vision goggles and jammers we put into aircraft and vehicles. so we have a lot of capabilities that are very compatible with the department of defense...
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Sep 26, 2012
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his collection of companies includes defense contractors that do a lot of work for the pentagon. ranking at number two is not if finance. he's in housing. bob perry. he's the founder of perry homes in texas. he supports the economic freedom fund. he's locked in a heated money battle in texas with our number one democratic donor. we are not going to tell you who it is now. you'll find out later as well as who the number 1 mystery is on the republican side on closing bell. >> is it within finance? >> it is not within finance. on the democratic side it's an independent associated with the democrats but a guy i hadn't heard of until i did this story. it will be a surprise to many viewers. >> in the meantime, is there evidence that the money they are giving is working? >> this is the fascinating debate. remember when the super pac issue came and the supreme court ruled and citizens united? there was a fear money would take over the election. some say it has had little effect since romney isn't plowing ahead especially in the swing states. others on the republican side and the super pa
his collection of companies includes defense contractors that do a lot of work for the pentagon. ranking at number two is not if finance. he's in housing. bob perry. he's the founder of perry homes in texas. he supports the economic freedom fund. he's locked in a heated money battle in texas with our number one democratic donor. we are not going to tell you who it is now. you'll find out later as well as who the number 1 mystery is on the republican side on closing bell. >> is it within...
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Oct 1, 2012
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in the defense sector, there's a real opportunity for savings by reducing service contracts. they're at record high levels. you know, like any other business tightening its belt, reduce our cost for outside vendors. some of these things can be, "a" done more efficiently with oversight and fewer cost overruns but always just done more cheaply. >> why do you think this isn't being done now? >> everything we have in our report is actually a low-hanging fruit substantively, but politically we have no illusions that these are all easy. everybody's got their constituency they're going to support. so these are things -- we need leadership. we need people to say this is the right thing. evidence doesn't support continuing to spend money on the osprey which has a 6% effective rate in combat. we can't have our troops using equipment that doesn't work. let's stop paying for it. we can't give money to industries that are incredibly profitable. so let's stop just giving money to people who have land that used to be farmed. let's stop the programs we can no longer afford and don't pack a p
in the defense sector, there's a real opportunity for savings by reducing service contracts. they're at record high levels. you know, like any other business tightening its belt, reduce our cost for outside vendors. some of these things can be, "a" done more efficiently with oversight and fewer cost overruns but always just done more cheaply. >> why do you think this isn't being done now? >> everything we have in our report is actually a low-hanging fruit substantively,...
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Sep 27, 2012
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s numbers are how well it's doing at playing defense. we know that part of their strategy is discounting their products, hoping they can create somewhat of a moat around them and give them time to get blackberry 10 out. seems that defensive strategy is working better than a lot of people expected. their average selling price is not down as much as people expected. a number of analysts expected them to do worse than that $2.5 billion number. they got up to 2.9. what we're seeing here is the the defensive strategy. it remains to be seen now that the iphone 5 is out and the samsung galaxy iii is out in the channel. >> all right, john. thank you so much. stock up big, 14% higher on r.i.m. up next, europe is a mess. the u.s. and china are slowing down. where is global growth coming from? bob hormats is with me. >>> then, it seems like a number of americans are learning a bad habit from washington. we'll tell you which one next. e, brochures, posters copies of my acceptance speech. great! it's always good to have a backup plan, in case i get h
s numbers are how well it's doing at playing defense. we know that part of their strategy is discounting their products, hoping they can create somewhat of a moat around them and give them time to get blackberry 10 out. seems that defensive strategy is working better than a lot of people expected. their average selling price is not down as much as people expected. a number of analysts expected them to do worse than that $2.5 billion number. they got up to 2.9. what we're seeing here is the the...
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Oct 1, 2012
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brian belski, you don't consider your play a defensive play that you like right now. in the categories where you like the dividends, where do you like? consumer staples? where do you play it? industrials? >> we're overweight staples, industrials, tech and energy because those are the companies with great cash flow, great earnings consistency, oh, by the way, many of those companies are growing their dividends. it's a great kind of wrap-up it up into one party. >> the key is dividend growth. great to see you. that is first hour of "the closing bell." don't go
brian belski, you don't consider your play a defensive play that you like right now. in the categories where you like the dividends, where do you like? consumer staples? where do you play it? industrials? >> we're overweight staples, industrials, tech and energy because those are the companies with great cash flow, great earnings consistency, oh, by the way, many of those companies are growing their dividends. it's a great kind of wrap-up it up into one party. >> the key is dividend...
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bergersen got almost five years for communicating national defense information. kuo, a naturalized american citizen, is in a u.s. prison doing 15 years for espionage. for every case that is broken, like the bergersen case, for example, how many others are there that we have no idea about? >> oh, isn't that the important question? you never know what you don't know. but, certainly, we have seen such an extensive range of activities by the chinese that it should make you very uncomfortable. >> since this story aired, tai shen kuo's sentence was reduced to five years because he cooperated with the prosecution, and the judge felt the damage to national security had been limited. he's scheduled to be released in june of 2012.
bergersen got almost five years for communicating national defense information. kuo, a naturalized american citizen, is in a u.s. prison doing 15 years for espionage. for every case that is broken, like the bergersen case, for example, how many others are there that we have no idea about? >> oh, isn't that the important question? you never know what you don't know. but, certainly, we have seen such an extensive range of activities by the chinese that it should make you very uncomfortable....
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Oct 3, 2012
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. >> defense. >> it could also impact the commercial airline industry as well. >> see ma, thanks as always. final trades, next. irbags, a crash management system and the world's only tridion safety cell which can withstand over three and a half tons. small in size. big on safety. zagat just gave hertz its top rating in 15 categories, including best overall car rental. so elevate your next car rental experience with the best. [ male announcer ] the exceedingly nimble, ridiculously agile, tight turning, fun to drive 2013 smart. ♪ >>> welcome back. let's do final trades. >> toll brothers has been a performer. it popped off the ism number. wait for the $34 range in the name. >> i still like apple here. i think $650
. >> defense. >> it could also impact the commercial airline industry as well. >> see ma, thanks as always. final trades, next. irbags, a crash management system and the world's only tridion safety cell which can withstand over three and a half tons. small in size. big on safety. zagat just gave hertz its top rating in 15 categories, including best overall car rental. so elevate your next car rental experience with the best. [ male announcer ] the exceedingly nimble,...
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Oct 3, 2012
10/12
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it is a good defensive name. it is going to return a lot of cash to share holders and we like that. >> i want to broaden it out and go a little macro. i know you prefer stocks to bonds in this environment. let me take the other side and say we have global quantitative easing. wouldn't it be better doing what the central banks are doing and getting the capital appreciation? >> we don't disagree. certainly we want to be in line with what the central banks are doing. if the treasury bond is buying treasuries it is good to be a treasury holder. what is going to happen when the central bank buying turns off? we think stocks are going to be well positioned in a modern inflation environment. and the bigger risk, deflation is a very probability. a bigger risk is higher inflation in the future in which case cash and bonds do poorly. we need to be in gold and commodities and real assets. we are building our portfolios to reflect the probability of these different destinations. our biggest scenario is one of moderate inflat
it is a good defensive name. it is going to return a lot of cash to share holders and we like that. >> i want to broaden it out and go a little macro. i know you prefer stocks to bonds in this environment. let me take the other side and say we have global quantitative easing. wouldn't it be better doing what the central banks are doing and getting the capital appreciation? >> we don't disagree. certainly we want to be in line with what the central banks are doing. if the treasury...
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Sep 26, 2012
09/12
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elsewhere, australia miners ended lower, but defensive headquarters capped loss on that market. india's index lowered by about .4 of a percent. >>> let's get over to london now and the latest out of europe. kelly evans is standing by with that. kelly, what can you tell us about some of the chaos there? >> becky, good morning. pretty much get a sense from looking behind me, it's great to see her, by the way, on your program. usually we just get to hang out on "worldwide exchange." you'd be hard pressed to find stocks in the green. there's a couple over there, but really not too many to mention. this is a pretty broad-based selloff. for the most part. we can take a look at the ftse 100. now greater than 1% on the morning. dax down 1.5%. cac shedding nearly 2% at this point. spain's ibex down 2.65%. this is where some of the real action has been. i almost don't need to do anything else but show you this chip and that can give you a sense of what's happening in markets. we've seen concerns about the health of different regions of spain drawing on the sovereign's finances. that start
elsewhere, australia miners ended lower, but defensive headquarters capped loss on that market. india's index lowered by about .4 of a percent. >>> let's get over to london now and the latest out of europe. kelly evans is standing by with that. kelly, what can you tell us about some of the chaos there? >> becky, good morning. pretty much get a sense from looking behind me, it's great to see her, by the way, on your program. usually we just get to hang out on "worldwide...
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Oct 3, 2012
10/12
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that would let us cut defense spending. we would no longer need to spend hundreds of billions of dollars supporting other regimes. fourth, i would have the federal government take advantage of the low interest rate environment and issue $500 million in 30-year bonds to fix the nation's infrastructure. fifth, i would slap tariffs on goods made by countries. that would stop the endless parade of jobs migrating from our country to other countries. they have a ridiculous competitive advantage over us. six, i would insist there be a course in high school called money where kids could learn what money is, how to save, how to invest. people need education about the stock market. perhaps to find their own therapeutics. seventh, i would appoint a steven jobs memorial competitiveness czar to figure out how our businesses could be made more speft and find out what they need. not government handouts but trying to get educated engineers to help these companies. i would reappoint ben bernanke as chairman of the federal reserve. if it wer
that would let us cut defense spending. we would no longer need to spend hundreds of billions of dollars supporting other regimes. fourth, i would have the federal government take advantage of the low interest rate environment and issue $500 million in 30-year bonds to fix the nation's infrastructure. fifth, i would slap tariffs on goods made by countries. that would stop the endless parade of jobs migrating from our country to other countries. they have a ridiculous competitive advantage over...
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Oct 3, 2012
10/12
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>> we had a pretty darn good economy when we were playing bill clinton's tax rates and then it cuts defenses we haven't done in 30 years and entitlement programs. >> there's a few on the left that admit that going back to the clinton tax rates is not just for people who are 250, it's for everyone. >> i agree with that. >> $200 billion in the middle class from the bush tax cuts and $100 billion from the payroll tax cut -- >> it would do a lot. >> we should take our medicine, we should do it. >> that's where i think you're right. we have to -- any politician who says democrat or republican, we're going to get out of this without suffering some pain -- >> that's what we're hearing from paul krugman who says any democrat that goes along with the simpson/bowles. >> only for one reason, you shouldn't raise the -- you shouldn't raise the eligibility for medicare to 67. that makes no sense at all. but otherwise -- >> why doesn't it? >> because medicare is the only universal health care plan that we have in this country. and to raise it at the time when people are retiring is insane. and furthermore,
>> we had a pretty darn good economy when we were playing bill clinton's tax rates and then it cuts defenses we haven't done in 30 years and entitlement programs. >> there's a few on the left that admit that going back to the clinton tax rates is not just for people who are 250, it's for everyone. >> i agree with that. >> $200 billion in the middle class from the bush tax cuts and $100 billion from the payroll tax cut -- >> it would do a lot. >> we should...
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Sep 26, 2012
09/12
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so they had somewhat defensive tendencies back then. so i really don't think it's essential to see leadership from the transportation sector. i'd really prefer to see frit the technology sector, which we have seen. >> walk us through what is leading -- and also, in terms of small caps, things with a little higher volatility that people tend to look to as canaries. >> right. so small caps -- and i'd also highlight emerging markets as having captured some performance recently. if you look at the emerging market shares, they've really lost momentum. i think investors will ultimately be seek out performance there because they're less overbought than the u.s. market. >> i heard you suggest that it was a buying opportunity. i didn't quite catch the level that you were targeting on the s&p. how high do you think we can bounce? >> well, 1420 is initial support and the breakout that we saw recently targeted about 1530, although the next resistance that it faces is up at the 2007 high. >> 1530 is 100 points higher than we are now. >> it is. and i
so they had somewhat defensive tendencies back then. so i really don't think it's essential to see leadership from the transportation sector. i'd really prefer to see frit the technology sector, which we have seen. >> walk us through what is leading -- and also, in terms of small caps, things with a little higher volatility that people tend to look to as canaries. >> right. so small caps -- and i'd also highlight emerging markets as having captured some performance recently. if you...
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Oct 2, 2012
10/12
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defensive nature to the sectors that were doing well today. the classic defensive plays, health care and utilities leading the way followed by everybody's favorite these day, telecom, because of that dividend play. the financials are squeaking out a gain at the close. peter costa, what do you make of this late comeback? >> we've seen the last few days where the market's been up and sold off towards the end of the day. this is just a reversal. i think towards the end of the day we've seen a lot of reversals. you know, short positions being covered. >> the spanish, we believe they'll eventually ask for help from the european central bank. >> get it over with. >> what does the market do when that finally happens? >> well, i think there will be a sigh of relief. one of the question marks that's been overhanging the market for the last six months will be answered. i would imagine it would be not fully answered, but it will be answered. i think the market will probably rally after that. i guess we'll go to earnings season and follow it through there
defensive nature to the sectors that were doing well today. the classic defensive plays, health care and utilities leading the way followed by everybody's favorite these day, telecom, because of that dividend play. the financials are squeaking out a gain at the close. peter costa, what do you make of this late comeback? >> we've seen the last few days where the market's been up and sold off towards the end of the day. this is just a reversal. i think towards the end of the day we've seen...
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Sep 26, 2012
09/12
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elsewhere, australian miners ended lower, but defense of health care capped losses on that market. that's all from me. back to you. >> all right, thanks for that. >>> spanish police and protesters have been clashing in madrid last night as a demonstration turned violent. thousands descended on the country's parliament demanding fresh elections and an end to cuts and tax hikes. strike organizers have called for fresh protests. >> the pressure continues to pile on spain's government. andalucia has become the latest region to say it may request government aid. speaking to reporters last night, the prime minister said he couldn't say at the moment whether he would ask for a full sovereign bailout. meanwhile, the head of catalonia has called an early election for november. they are pressing for independence saying it's had enough of propping up the region's poorer regions. >>> the bank of spain has shrunk at a significant rate. this as confidence continues to deteriorate. the financial markets are putting pressure on spain's finances. >> there's a tone in there that suggests the contrac
elsewhere, australian miners ended lower, but defense of health care capped losses on that market. that's all from me. back to you. >> all right, thanks for that. >>> spanish police and protesters have been clashing in madrid last night as a demonstration turned violent. thousands descended on the country's parliament demanding fresh elections and an end to cuts and tax hikes. strike organizers have called for fresh protests. >> the pressure continues to pile on spain's...
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Sep 28, 2012
09/12
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. >> in illinois today, europe begins its defense of the ryder cup. four matches this morning and four more matching in the afternoon. rory mcilroy and graham mcdowell within the first to tee off against jim furyk and snedeker. >> so we're hoping for him. no tiger/rory match-up today. and you remember somebody -- norman said that rory mcilroy intimidating tiger. nobody intimidates tiger. >> you would. >> i don't intimidate tiger or his caddie. he got rid of that thug. i think he's now with adam scott. but then the guy said adam scott won some average tournament and he said it was the greatest caddying game. i think he's a kiwi, isn't he? anyway, now today's weather forecast. alex wall larks i was trying to find out when on nbc the ryder cup starts today. >> i'll find out. >> alex, you're a renaissance man. you don't just know about rain, do you you? is there rain in illinois? how about that? >> it looks like the rain will be sinking just south of illinois, maybe a few showers this morning. but later today should be a little drier. >> who is it on toda
. >> in illinois today, europe begins its defense of the ryder cup. four matches this morning and four more matching in the afternoon. rory mcilroy and graham mcdowell within the first to tee off against jim furyk and snedeker. >> so we're hoping for him. no tiger/rory match-up today. and you remember somebody -- norman said that rory mcilroy intimidating tiger. nobody intimidates tiger. >> you would. >> i don't intimidate tiger or his caddie. he got rid of that thug. i...
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Sep 25, 2012
09/12
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in the end, when you buy at the top, you're very defensive. this is not aol/time warner. at the same time, had they waited a couple, 18 months, they would have gotten a very different dynamic. >> very different deal. it would have been time warner buying aol. by the way, greatest deal ever done for the shareholders. >> sometimes you have winners and losers. >> that's right. there always are. >> the entire sector is down across the board. you look at deere and cat. jpmorgan estimates that companies will be down 14% through 2014. now is a great time apparently to buy up the mining services companies, according to ge, which will start a new mining unit. >> ge -- look, they have a good sense of the world. i'm not going to say -- look, put it this way, if they bought joint global they would do better than caterpillar, so maybe what they're saying is, okay, look, we didn't buy the top. we are not going to get the bottom. maybe china turns. i thought the general electric idea of buying my equipment and initially thought it was wrongly timed. stephanie link is on "fast money" and
in the end, when you buy at the top, you're very defensive. this is not aol/time warner. at the same time, had they waited a couple, 18 months, they would have gotten a very different dynamic. >> very different deal. it would have been time warner buying aol. by the way, greatest deal ever done for the shareholders. >> sometimes you have winners and losers. >> that's right. there always are. >> the entire sector is down across the board. you look at deere and cat....
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Oct 2, 2012
10/12
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once in the organization and another plays defense. it is not the bears' defense. it is more the jets. you know what they are? they are on the punt pass. the season is over. >> two games left. >> there's a pup blast, a physically unable to perform list and microsoft is on the pup list. hewlett-packard is on there, dallas i.r. is there. >> are they career-ended injuries? >> come on, microsoft has a 3% dividend yield. >> sanchez just has to complete 3% of his passes. >> just keep going. >> i want to go with the man -- people didn't go for this. i'm going football metaphors. >> i thought it stayed on so i wasn't following. >>> let's talk american airlines. american airlines has temporarily grounded eight plans evaluated after seems became loose on two lanes in the last few dids. the investigators are the latest setback for america. they have been hurt in flight delays and cappslations causing travel agents to book flights with other airlines. of course, there a bitter dispute going on and a lot of the delays are pilot differentiated. americans lost could really be a g
once in the organization and another plays defense. it is not the bears' defense. it is more the jets. you know what they are? they are on the punt pass. the season is over. >> two games left. >> there's a pup blast, a physically unable to perform list and microsoft is on the pup list. hewlett-packard is on there, dallas i.r. is there. >> are they career-ended injuries? >> come on, microsoft has a 3% dividend yield. >> sanchez just has to complete 3% of his passes....
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Sep 28, 2012
09/12
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think there is an appreciation that you don't do it, you sta a start off with cuts, 50 billion from defense, 50 billion from important programs. nobody comes ahead from either side of the aisle and certainly the american public does not come out ahead. >> you have built a very successful firm, gotten very nice press lately at center view. while the industry has been suffering to say the least. what do you make of 2013 as we head into it? i hear that we're going to see so many big investment banks still need to cut both compensation and perhaps head count. >> so clearly the industry remains in a period of transition. it's been like this for a few years. but i think it's important to recognize that this industry has always had periods of transition. just in my career, 25 years, i can think of three different cycles. the industry always comes out on top on a competitive basis globally. i do think we still have the most intellectual capital anywhere in the industry. the most innovation. and you already see firms doing what they should do to get to the right place. they're focusing on businesses
think there is an appreciation that you don't do it, you sta a start off with cuts, 50 billion from defense, 50 billion from important programs. nobody comes ahead from either side of the aisle and certainly the american public does not come out ahead. >> you have built a very successful firm, gotten very nice press lately at center view. while the industry has been suffering to say the least. what do you make of 2013 as we head into it? i hear that we're going to see so many big...
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it really affects how much candidates go on offense versus defense. the key is to be what might be called respectfully aggressive. to walk that line with -- when you are trying to attack and make a point that you don't overreach. that's the key question of the american people's mind. can this man, mitt romney, be president? how does he stand up next to a president on the stage? of course, president obama has a natural advantage in this because he is not running for president. he is president. >> all right. >> it is the key criteria, and campaigns shouldn't lose sight of that. >> we know this is a debates that revolves around domestic policy here. the other question is will mitt romney actually try to bring up libya into the debate because they've been so critical on the president? they think perhaps this is a weakness. >> it absolutely is. polls show it. we're almost at the one-month mark since the attack on our benghazi consulate, and the ambassador's killers haven't been brought to justice. the romney campaign will be trying to decide how they can b
it really affects how much candidates go on offense versus defense. the key is to be what might be called respectfully aggressive. to walk that line with -- when you are trying to attack and make a point that you don't overreach. that's the key question of the american people's mind. can this man, mitt romney, be president? how does he stand up next to a president on the stage? of course, president obama has a natural advantage in this because he is not running for president. he is president....
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Sep 28, 2012
09/12
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and, you know, in defense of the secretary of defense, the details are coming in very slowly simply because it's been difficult to get people out of the country. the debriefings have gone slowly, and we can't put people on the ground because of the security situation. so the truth has come out very slowly, even inside our government. >> and, fran, i mean, a lot of people are being critical of the administration. to play devil's advocate here, though, it's one thing for politicians who are not part of the government to say -- or not part of the administration to say, well, look, we should have known this earlier. it's another thing for administration officials to come out in front of an investigation and say, oh, it was a terrorist attack. there was a level of caution that an administration official would have that a congressman would not, who is more critical. >> no, anderson, that's exactly right, and, remember, after the bin laden raid, they came out initially with details that turned out not to be accurate, and they were really criticized for it. so in some ways, that is understandable.
and, you know, in defense of the secretary of defense, the details are coming in very slowly simply because it's been difficult to get people out of the country. the debriefings have gone slowly, and we can't put people on the ground because of the security situation. so the truth has come out very slowly, even inside our government. >> and, fran, i mean, a lot of people are being critical of the administration. to play devil's advocate here, though, it's one thing for politicians who are...
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Sep 29, 2012
09/12
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and mitt romney is out to make the case that the best defense is a better economy. >> in battle ground virginia both president obama and mitt romney pulled out the heavy artillery. romney slammed the president for the defense cuts coming at the end of the year. >> it is still a troubled and dangerous world and the idea of cutting our military commitment by a trillion over this decade is unthinkable. and devastating. and when i become president of the united states, we will stop it. i will not cut our commitment to our military. >> the president once again blasted romney's hidden camera comments on the 47% of americans he dubbed victims of government dependence. >> i don't think we can get very far with heed lookers who write-off half the nation as a bunch of victims who never take responsibility for their own lives. >> 47% people of the people -- >> the obama campaign turned romney's remarks into a devastating new ad playing the words under the faces of families and veterans. >> and they will vote for this president no matter what. so my job is not worry about those people. they should
and mitt romney is out to make the case that the best defense is a better economy. >> in battle ground virginia both president obama and mitt romney pulled out the heavy artillery. romney slammed the president for the defense cuts coming at the end of the year. >> it is still a troubled and dangerous world and the idea of cutting our military commitment by a trillion over this decade is unthinkable. and devastating. and when i become president of the united states, we will stop it....
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Sep 30, 2012
09/12
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. >> does this end up giving the president kind of the upper hand even though he too is on the defensive as it relates to health care? >> the president is clearly in the lead, but still in a somewhat precarious position. he is defying gravity. he still has at least 2/3 of the country saying we're on the wrong track, usually that's a very difficult environment for the incumbent to get elected. and for the president, voters are not convinced they wanted to go the romney's direction, but extending where we are for the next four years is not an attractive process. he's got to walk that tight rope by saying we are moving in the right direction. and also kind of give people a sense of the next four years that are going to be better in their arrives than the previous four have been. >> sometimes we look ahead and see that yes, what these candidates say is going to be important and pivotal what their body language has said. who can forget the gore-bush debate, and you have to wonder between these two candidates, romney and obama, who's likely to win, who's likely to be too breathy, or maybe be a
. >> does this end up giving the president kind of the upper hand even though he too is on the defensive as it relates to health care? >> the president is clearly in the lead, but still in a somewhat precarious position. he is defying gravity. he still has at least 2/3 of the country saying we're on the wrong track, usually that's a very difficult environment for the incumbent to get elected. and for the president, voters are not convinced they wanted to go the romney's direction,...
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Sep 27, 2012
09/12
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do they understand the charges against them and can they assist in their defense. is that kid competent according to those standards? >> according to the standards, the judge found that probably -- probably what the judge found was he didn't have to be told and there wasn't a determination that needed to be made whether or not he understood he had a right to keep his mouth shut because he either wasn't in custody yet or wasn't being interrogated. are you in custody and are you being asked a question that, if you answer it, it would incriminate you. >> i can't understand how a child can understand the process. you have understand the process to be in a courtroom to start with. clearly this thing has been moving along the pipeline. once it gets to trial, if it ever does, you get to the jury. and there are a lot of people in the state of florida who are not happy about this. the prosecutor is angela cory, by the way, the same one in the zimmerman case. ultimately would a jury look at a little kid and say first degree murder, life in prison without parole? not on my wa
do they understand the charges against them and can they assist in their defense. is that kid competent according to those standards? >> according to the standards, the judge found that probably -- probably what the judge found was he didn't have to be told and there wasn't a determination that needed to be made whether or not he understood he had a right to keep his mouth shut because he either wasn't in custody yet or wasn't being interrogated. are you in custody and are you being asked...
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to get defensive. that's what caused the $10,000 bet with governor romney and that what caused the moment where president obama, then senator obama, told hillary she was likeable enough. i think both of them, when put on their heels, tend to make mistakes. >> let's play a clip of that from the hillary clinton/barack obama debate. >> he's very likeable. i agree with that. i don't think i'm that bad. >> you're likeable enough, hillary. >> thank you very much. >> so, realistically, what is the impact -- how as a debate prepper do you help someone navigate those moments that just happen as the debate unfolds? >> it's through extensive preparation. you know, the one thing that you can't compensate for is the lack of practice. so both men, i'm sure, have been working extensively to prepare for these moments. you know, the big thing is, to take them through every eve eventuality as much as possible and also get them mentally prepared. it's those mental lapses when they're not focused. keem them focused throug
to get defensive. that's what caused the $10,000 bet with governor romney and that what caused the moment where president obama, then senator obama, told hillary she was likeable enough. i think both of them, when put on their heels, tend to make mistakes. >> let's play a clip of that from the hillary clinton/barack obama debate. >> he's very likeable. i agree with that. i don't think i'm that bad. >> you're likeable enough, hillary. >> thank you very much. >> so,...
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Sep 29, 2012
09/12
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defense secretary leon panetta says the u.s. has intelligence that syria's government has moved some of its chemical weapons to secure them. >>> newly released documents show that colorado movie theater shooting suspect james holmes threatened someone at the university of colorado where he was a graduate student, and had been banned from campus. the documents are heavily redacted but prosecutors say it was a professor that holmes threatened. >>> michigan authorities took two soil samples from beneath a storage shed at a suburban detroit home in the latest search for former teamster chief jimmy hoffa. he has been missing since 1975. he was declared dead in 1982. a tipster told police he saw a body being buried at the site the day after hoffa disappeared. the soil samples will be tested for human remains. police say today's search did not turn up any evidence that someone was buried there. >>> you got to see this. a rare white whale has been spotted off australia's eastern coast. the albino humpback has been nicknamed by researche
defense secretary leon panetta says the u.s. has intelligence that syria's government has moved some of its chemical weapons to secure them. >>> newly released documents show that colorado movie theater shooting suspect james holmes threatened someone at the university of colorado where he was a graduate student, and had been banned from campus. the documents are heavily redacted but prosecutors say it was a professor that holmes threatened. >>> michigan authorities took two...
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Sep 27, 2012
09/12
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second of defense saying he had information it was planned. next up, was the chairman of the joint chief of staffs general martin dempsey and offered fairly astounding information about the intelligence that the administration had. listen to this. >> there was a thread of intelligence reporting that groups in the environment in eastern libya were seeking to coalesce and wasn't anything specific and certainly not a specific threat to the consulate that i'm aware of. and as far as to the risks that the fbi reported to you, really have to ask them for why they made that determination. i don't know. >> reporter: what dempsey is saying there, brooke, is that there was intelligence about these groups in eastern libya around benghazi coalescing and said there's nothing specific as to any direct threat against the ambassador. even though the ambassador had been indications he believed he was on an al qaeda hit list, the chairman of the joint chiefs says the intelligence he saw didn't indicate that level of specificity but in the month, the month befor
second of defense saying he had information it was planned. next up, was the chairman of the joint chief of staffs general martin dempsey and offered fairly astounding information about the intelligence that the administration had. listen to this. >> there was a thread of intelligence reporting that groups in the environment in eastern libya were seeking to coalesce and wasn't anything specific and certainly not a specific threat to the consulate that i'm aware of. and as far as to the...